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Coinbase Announces Offer Of Secondary Market As Firm Plans To Go Public

January 23, 2021 by Blockchain Consultants

As the crypto market is hotly anticipating the largest US cryptocurrency exchange Coinbase to go public, the company will also launch a secondary market along.

Although this market debut has been anticipated for some time, it wasn’t until last month that Coinbase filed a confidential S-1 for the stock listing on Nasdaq.

Employees are allowed to sell their shares

The exchange offers trading for several cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Ethereum Classic, Tezos, and Bitcoin Cash.

Coinbase offers Bitcoin storage and transactions for about 190 countries, while it serves about 32 countries with fiat currencies.

The secondary market service will surely excite consumers and crypto enthusiasts who are wondering what type of service upgrade they are expecting when Coinbase goes public.

The message from Coinbase states that the Nasdaq private market will inform users how they can access the Coinbase sharers for trading and how the market will operate.

With this new development, both former and current employees with vested equity in the exchange are allowed to sell their shares. The exchange is expected to go public soon.

Coinbase will go public through a direct listing

Ahead of the Coinbase IPO, Nasdaq Private Market will provide services for companies, which includes controlled liquidity programs, especially for firms who want to raise secondary capital for investors and shareholders.

However, rather than going through an IPO, the expectation is that Coinbase will use the direct listing to reach the public markets.

The digital currency exchange was founded in 2012, with headquarters in San Francisco, California.

The company was founded by former Airbnb engineer Brian Armstrong, and former Goldman Sachs trader Fred Erhsam.

Coinbase has taken huge steps towards making the company attract global attention as it is today. The firm’s ambitious growth plans started yielding results almost immediately, as its user base grew to 1 million barely 2 years after it was formed.

Its growth was also helped by several partnerships with top brands like Time Inc, Dish Network, Expedia, Dell, as well as Overstock.

Presently, the exchange is valued at over $70 billion, as pre-IPO contracts have already started trading on FTX.

Coinbase Announces Offer Of Secondary Market As Firm Plans To Go Public

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Filed Under: blockchain, cryptocurrency Tagged With: Bitcoin, bitcoin cash, brian armstrong, California, Cash, coinbase, Companies, crypto, Cryptocurrencies, cryptocurrency, cryptocurrency exchange, Currencies, Currency, Digital, digital currency, direct listing, engineer, equity, ethereum, exchange, fiat, Go, Goldman Sachs, IPO, Litecoin, Market, Markets, San Francisco, storage, Trading, us

Crypto and blockchain: What the Brazilian market can expect for 2021

January 22, 2021 by Blockchain Consultants

2020 will be remembered as one of the most difficult years for contemporary societies: Countries and entire populations have faced lockdowns and economic crises, financial markets still suffer from the severe impacts of the economic recession, and more than 2 million lives have been taken by COVID-19.

Despite this, other sectors have been impacted in other ways during the severe global health crisis — which still seems far from over, even though vaccines are beginning to be distributed in wealthy countries. Economies have radically digitalized, hedge assets have attracted mistrust, and the crypto market has had one of its most important years since 2009, the year of Bitcoin’s (BTC) launch.

In fact, the crypto and blockchain markets have stood out in the face of a crisis that has spared almost no sector. Cryptocurrency funds are among the most profitable of the year, Bitcoin and the biggest altcoins reach new historic highs, large institutions and investors in the financial markets have allocated investments in Bitcoin, and blockchain technology has broken down barriers in the financial sector and in the production chains of the most varied of sectors.

Faced with a year of profound changes, what is to be expected for the future? Cointelegraph Brasil invited some of the country’s top crypto and blockchain experts to chart the next steps for the market.

Institutional investment

Institutional investment was highlighted in 2020, finally reaching the cryptosphere, and it promises another year of growth in 2021.

According to Rodrigo Borges, founding member of the Oxford Blockchain Foundation, large Bitcoin contributions by institutional investors — which have even bought more BTC than the production capacity of miners — will intensify in 2021: “Regarding Bitcoin, I imagine that there will be an increase in demand for institutional investors, enabling the emergence of new products with exposure to Bitcoin,” analyzed Borges. He also sees “2021 as a year of consolidation and strong development in the sector.”

As for Tatiana Revoredo, MIT blockchain expert and Cointelegraph Brasil columnist, the custody of cryptocurrencies by traditional financial institutions and the adoption of stablecoins will be key in the new year:

“In the financial sector, we will see applications for custody of crypto assets being launched in Brazil, with the possible participation of the traditional market. And if the regulatory authorities allow it, stablecoins will have an expressive role in the Brazilian market, with the turnover being able to quadruple in size.”

Crypto markets

Crypto markets experienced a year of extreme optimism — or greed, as demonstrated by the Crypto Fear & Greed Index. Bitcoin reached a dramatic bottom close at $3,800 in March, and it beat its 2017 historic high of $20,000 on Dec. 16. In Brazil, the currency set a new historical record in November when it reached $106,000 Brazillian reals.

Cointelegraph Markets reporter Marcel Pechman highlighted the behavior of the market despite the setbacks suffered during the year. He recalled: “The Bitcoin and Ethereum markets developed in 2020 as never before imagined, both in terms of trading volume, price and the contribution of renowned investors like Paul Tudor Jones and Stanley Druckenmiller.”

Pechman said that despite the crypto market suffering some setbacks, the impact of those setbacks on market performance was not so significant: “We had, for example, the US Department of Justice suing BitMEX — at the time, the largest derivatives exchange — and KuCoin’s $280 million hack, and none of those affected the market.”

Pechman also recalled that the 2020 DeFi race led to expensive transaction costs on the Ethereum network but did not impact market sentiment.

OriginalMy CEO Edilson Osório agreed with the promising future of the DeFi sector, but he cautioned against fraud:

“This is an experimental and very promising market, but it must be given extra attention because of malicious groups applying scams and fraud in general. As it is a very new market, platforms may have problems with hacks, and due to the great centralization that exists (even with many platforms presenting themselves as decentralized), there is still a risk of exit scams.”

About 2020’s innovations, and the digitalization imposed by the COVID-19 crisis, Pechman also said that it will go even deeper in 2021:

“Successive innovations, which include Taproot, Schnorr and Lightning Network in Bitcoin, in addition to the launch of Ethereum 2.0 phase 0, pave the way for the next wave, with increasingly larger, scalable applications, and interconnected with traditional finance. The final proof? Fidelity offers loans covered in cryptocurrencies.”

On the domestic markets, Osório is betting on the tokenization market in Brazil, which is already used by the country’s largest crypto exchange, Mercado Bitcoin. According to him, 2021 will be a year for “maturing the security tokens market.”

“Existing protocols are beginning to be well regarded by regulators, since most of them provide for greater participation and visibility on the part of the regulator itself and allow the mitigation of various risks inherent in this market. In this race, there is a great chance that Brazil will gain prominence because the local regulator has established a regulatory sandbox and the first projects are already beginning to mobilize to have their applications running in a more legally secure environment,” – noted Osório.

Another player at the Brazilian crypto markets, João Paulo Mayall — head of operations at QR Asset Management — is also optimistic about the tokenization market in 2021. He highlighted the role of regulators in the sector’s expansion in the South American country: “I believe that the future is the tokenization of assets, debentures, court bonds, government debts. Brazil is very advanced in its banking system and we will have many surprises in this sector, so I am very optimistic. Tokenization is a billion-dollar market, but it lacks the infrastructure. Innovation came in front of the regulators, but I think they are open to listening and working on it. I think [the regulation] will happen next year, even before March 2021.”

Finally, blockchain expert Tatiana Revoredo argued that crypto adoption in Brazil, which saw its currency melt in 2020, will intensify, with Bitcoin once again asserting itself as an economic-protection asset. She believes that the crypto markets will see “an increase in the interest of Brazilians, with consequent increase in the Brazilian market, with a prominent role for Bitcoin being adopted as a protective asset.”

CBDCs and national governments

The digitization of economies has placed the discussion of central bank digital currencies, or CBDCs, at the center of debates by financial authorities around the world. One of the countries that has definitely entered this race is China, which is already conducting real tests of the digital yuan in the country. Its main geopolitical rival, the U.S., announced that for the time being, it does not intend to digitize the dollar, but it is already seeing internal pressure from not following the Chinese leadership in the sector.

The Central Bank of Brazil has also commented on the transformation of the Brazillian real into a digital currency a few times, although there are no concrete plans for that in the short term.

Osório believes the European Union will join the hype soon, further accelerating the global race for CBDCs: “Although China appears to be leading the CBDC race, other countries are also beginning to move in this direction. Among them, Estonia, which recently started an internal consultation for the launch of its currency in the digital version. In particular, I believe that in Europe a more comprehensive and organized movement should take place in this sense, given the incentives promoted by the European Union.”

Many experts try to predict the impacts of CBDCs on economies — one of the main concerns of economic regulators. Governments, which largely study the adoption of blockchain in their public processes, should also enter the debate on privacy and the digitization of money.

According to Tatiana Revoredo, “in the government sector, the forecast is for the growth of [blockchain] applications in document registration and health applications, as well as a greater concern, by the citizens, regarding the relationship between privacy and CBDC.” She also claims that payments processors should closely monitor this innovation:

“Those who should be more attentive to these movements are the means of payment, such as PayPal and their peers. They will have to look deeply into their business models as soon as governments start issuing their currencies digitally. ”

Blockchain adoption

Governments have also viewed blockchain technology through a positive lens. In Brazil and Latin America, several state entities already use the technology to certify documents, including customs and notary offices. Big companies are also adopting blockchain to certify production, with use cases that are only expected to grow going forward.

Borges said that the acceleration of blockchain adoption by large companies and governments can positively impact crypto assets:

“Within the scope of blockchain technology, I see the development of interesting solutions, with the increasing involvement of traditional players, especially in the financial and agribusiness sectors, which may result in increased liquidity for certain assets.”

Revoredo agreed and highlighted the advancement of technology in the agricultural sector: “There has been a significant advance in agribusiness, with use in the identification of devices (drones, for example), integration with IoT and artificial intelligence to provide greater reliability and certify quality of agricultural production.”

Osório defended the growth of the blockchain market in 2020 and its prospects for the near future: “When we look at advances in blockchain with applications beyond digital currency, we see a growing market in the area of ​​decentralized digital identity, including with the approach of governments. We have seen movements in governments in the US and Japan, interested in modernizing their digital governance models. And the pandemic has certainly helped to accelerate and advance discussions on the issue around the world, as it understands that the digitization of analog and traditional services is a necessity.”

The end of 2020 was a milestone that closed out one of the most dramatic years in the history of contemporary societies, but it also revealed ways to combat global economic and health crises.

Blockchain technology has helped societies fight corruption, adopt more transparent processes and even contributed to the certification of medicines and vaccines during the most serious health crisis of the last 100 years, in addition to helping companies to improve procedures, products and services.

Meanwhile, Bitcoin has strengthened as an economic protection and investment product, has attracted institutional investment giants, and — together with other crypto technologies — has even laid the foundation for central banks around the world to start implementing their own digital currencies.

We still do not know the depth of the revolution we are experiencing with the digitalization of societies and the weakening of national currencies around the world, but by the end of 2021, we will certainly know many of the answers to the questions that still plague us at the beginning of this new year.

Crypto and blockchain: What the Brazilian market can expect for 2021

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Hyperledger Vs Ethereum — Which Blockchain Platform Will Benefit Your Business?

December 8, 2020 by Blockchain Consultants

Codezeros

The two popular open-source Blockchain platforms, Hyperledger and Ethereum have created ripples of innovation in the blockchain world. They have not only found numerous blockchain applications but are also continuously encouraging blockchain developers around the world to engage in its collaborative development of framework and tools. Ethereum development company has tremendously changed the very face of the technology industry, and Hyperledger Blockchain Development, on the other hand, is warming up and doing a great job on the block.

In this article, we will underline the differences between these two highly sought-after blockchain platforms by discussing in lengths about their features.

What is Ethereum?

Ethereum is an open-source distributed public blockchain network which allows access of data to each participant in the network. Every time a new block is added to the Ethereum Blockchain, it will also be added to the universal copy that exists with all the individual nodes in the network. Everyone across the globe can connect with the help of Ethereum Blockchain Development and maintain the current state of the network. For this very reason, Ethereum is widely referred to as the “World Computer”.

What is Hyperledger?

Developed and hosted by Linux Foundation, Hyperledger is an open-source blockchain project. It was developed keeping in mind the distinctive needs of organizations. So, the Hyperledger Blockchain framework allows enterprises to customize Blockchain applications in accordance with their unique requirements. Hyperledger comprises tools and projects that assure to deliver high scalability, confidentiality, and resilience.

Purpose

Ethereum is designed and developed with the purpose of running smart contracts on EVM for the mass consumption of decentralized applications.

Hyperledger development, however, leverages blockchain technology for business. It has a modular architecture and provides flexibility in the way the enterprises want to use it.

Confidentiality

Ethereum is a public network so it is entirely transparent and all the transactions recorded in the Blockchain network are both visible and accessible by every peer.

Contrary to Ethereum, Hyperledger being a permissioned Blockchain platform is highly secured. All the transactions on the network are visible and accessible only to the parties having correct encryption keys.

Consensus Mechanism

With Blockchain Ethereum Development, all the participant nodes must reach consensus over all the transactions, irrespective of whether an individual node participates in a particular transaction or not. By leveraging the Proof of Work (PoW) consensus mechanism, all nodes must agree on a ledger to access the recorded entries in the network.

Hyperledger, on the other hand, allows nodes to choose between a no-op (no consensus needed) and Practical Byzantine Fault Tolerance (PBFT). In the latter approach, two or more parties can agree on a key to influence the desired outcome. This precludes undesirable third parties from intervening in the agreement.

Programming Language

Ethereum uses a high-level contract-oriented programming language called Solidity to write smart contracts. However, Hyperledger uses the term “chaincode” as a synonym for “smart contracts”. These “chains codes” are written in Golang, which is a programming language created by Google.

Cryptocurrency

Ethereum has a built-in cryptocurrency, Ether (ETH) and participants can mine Ether by paying “gas” as the cost of each transaction they carry out on the network.

Unlike Ethereum, Hyperledger does not require cryptocurrencies for transactions. Hence mining of cryptocurrencies is not required at all which allows for a scalable consensus algorithm that enables it to handle high transaction rates that further automate business deals made across the network.

But looking at both sides of the coin, as Ethereum has its own ether, it can turn out to be advantageous over Hyperledger in the cases which require a cryptocurrency.

Ethereum vs Hyperledger: When to use which?

Ethereum can be used when,

  • You want to develop public applications or B2C applications. With Ethereum Development Company, one can create a node and each node on the network possesses a copy of the blockchain.
  • You want a community-led by blockchain developers as Ethereum is enhanced and improved by developers worldwide.
  • You are open to working with third parties since most of the tools used for Ethereum Development rely on third-party, open-source projects.

Hyperledger can be used when,

  • You specifically want to develop B2B applications as it is explicitly designed to cater to B2B requirements.
  • You want to define your unique Blockchain infrastructure right from consensus algorithms to which nodes can decrypt which block on the network.
  • You are comfortable using in-house tools supported by top companies as the Hyperledger Blockchain framework is backed by Linux Foundation.

To conclude, both Ethereum and Hyperledger are highly flexible and come with their own set of advantages that are useful for different business scenarios and challenges. You can choose to work with any of these two tools based on the requirement of your blockchain project.

Hyperledger Vs Ethereum — Which Blockchain Platform Will Benefit Your Business?

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Filed Under: blockchain, blockchain development, blockchain technology Tagged With: article, blockchain, blockchain-application, blockchain-development, blockchain-startup, blockchain-technology, Business, Companies, Cryptocurrencies, cryptocurrency, data, Deals, decentralized, developers, encryption, ETH, ether, ethereum, Ethereum Blockchain, EVM, Go, google, Hyperledger, Infrastructure, Ledger, linux, mining, other, smart contracts, solidity, Technology, world

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

October 25, 2020 by Blockchain Consultants

Hot on the heels of Paypal’s crypto adoption, JPMorgan’s Global Markets Strategy division released a report detailing how Bitcoin (BTC) could offer “considerable” upside “if it competes more intensely with gold as an ‘alternative’ currency.”

According to the analysts, the three reasons for their long-term bullish view on Bitcoin are the large valuation gap between Bitcoin and gold, the growing utility of cryptocurrencies, and millennials preferring Bitcoin over gold in the long-term.

This report shows that institutions are gradually realizing the huge potential of cryptocurrencies and are willing to take a U-turn on their previous apprehensions.

Crypto market data daily view. Source: Coin360

Galaxy Digital CEO Mike Novogratz said that PayPal’s decision on crypto could force other big banks to consider ways to engage with digital assets. “We are going to see, over the next 10 years, a rebuilding of the financial infrastructure of this country,” Novogratz added in an interview with CNBC.

On similar lines, in a recent interview with Peter McCormack, Gemini crypto exchange founders Tyler and Cameron Winklevoss reiterated their bullish Bitcoin stance, explaining that they expect BTC to eventually reach $500,000.

The twins believe that if big Fortune 100 or 500 companies and central banks start buying Bitcoin for their treasury reserves, Bitcoin’s price could soar.

At the moment investors are wondering if Bitcoin can build upon the current bullish momentum and continue its journey northward.

Let’s study the charts of the top-5 cryptocurrencies to find out if Bitcoin and altcoins will move higher.

BTC/USD

Bitcoin (BTC) is in an uptrend and the price has been sustaining above the breakout level of $12,460 for the past few days. The rising 20-day exponential moving average ($11,938) and the relative strength index in the overbought zone suggest that bulls are in command.

BTC/USD daily chart. Source: TradingView

The bulls had pushed the price above $13,214 today but they could not sustain the higher levels. This suggests that the bears have not yet thrown in the towel and are defending the $13,200 level.

However, as the trend is up, the bulls are likely to buy on dips to the breakout level of $12,460. Even if this support cracks, the bulls may again step in and buy at the 20-day EMA.

If the BTC/USD pair rebounds off either level, the bulls will once again try to push and sustain the price above $13,214. If they succeed, a rally to $14,000 could be on the cards.

This positive view will be negated if the bears sink the price below the 20-day EMA. Such a move will suggest that the current breakout was a bear trap.

BTC/USD 4-hour chart. Source: TradingView

The bears thwarted an attempt by the bulls to extend the uptrend today when they did not allow the bulls to sustain the price above $13,214. The sellers dragged the price down to the

immediate support at the 20-EMA on the 4-hour chart.

The bulls are currently attempting to keep the price above the 20-EMA but the bearish divergence on the RSI suggests that the momentum may be weakening.

A break below the 20-day EMA could result in a retest of $12,460, while a strong rebound off the current levels could resume the uptrend.

ETH/USD

Ether (ETH) broke above the $308–$396 range on Oct. 22, which suggests that the bulls have overpowered the bears. Although bears have stalled the up-move at $420, they have not been able to pull the price back below $396.

ETH/USD daily chart. Source: TradingView

This suggests that the bulls are buying on dips to $400. The upsloping 20-day EMA ($383) and the RSI above 59 also indicate that bulls have the upper hand.

If the bulls can push the price above $421, the ETH/USD pair could start a rally that may challenge the Sep. 1 highs at $488.134.

This bullish view will be invalidated if the bears sink the pair back below $396 and the 20-day EMA at $383. Such a move could keep the pair range-bound for a few more days.

ETH/USD 4-hour chart. Source: TradingView

The pair has formed a flag pattern following the breakout above $400. The long tail on the retest of the breakout level suggests that bulls are accumulating at lower levels. A breakout above the flag will signal the possible start of a new uptrend.

Contrary to this assumption, if the bears sink the price below the flag, a drop to the $396–$400 zone is likely. If the pair once again rebounds off this support, the bulls will try to resume the uptrend. Conversely, the trend will favor the bears if the $388 support cracks.

XRP/USD

Although XRP has not yet started an uptrend, it has formed a possible inverse head and shoulders pattern that will complete when the price breaks out and closes above the overhead resistance at $0.26.

XRP/USD daily chart. Source: TradingView

If that happens, the XRP/USD pair could pick up momentum and rally to $0.30. A sequence of higher highs and higher lows since the Sep. 23 lows indicate a minor advantage to the bulls.

If the pair rebounds off the 20-day EMA ($0.249) or the uptrend line, the bulls will try to drive the price above $0.26.

This positive view will be negated if the bears sink the price below the uptrend line. Such a move could result in a drop to $0.228409.

XRP/USD 4-hour chart. Source: TradingView

The failure of the pair to sustain above $0.26 could have resulted in the liquidation of long positions that pulled the price below the 20-EMA on the 4-hour chart.

Currently, the flattish 20-EMA and the RSI near the midpoint suggests a balance between supply and demand.

A breakout of $0.2635 could tilt the advantage in favor of the bulls while a break below the uptrend line may signal an upper hand to the bears.

LTC/USD

Litecoin (LTC) completed an inverse head and shoulders pattern when it broke out and closed above the overhead resistance at $51.50 on Oct. 21. This setup has a target objective of $61.50 and if this level is crossed, the up-move may extend to $64.

LTC/USD daily chart. Source: TradingView

The rising 20-day EMA ($51.30) and the RSI near the overbought zone suggest that bulls have the upper hand.

Usually, after the breakout of a reversal pattern, the price dips to retest the breakout level. In this case, such a move could drag the price down to $51.50. If the price rebounds off this level, it suggests that the breakout is valid.

However, if the bears sink the LTC/USD pair below the 20-day EMA, it will suggest a lack of demand at higher levels. Therefore, it is a good strategy to wait for a rebound from a strong support before buying rather than enter on the way down.

LTC/USD 4-hour chart. Source: TradingView

The 20-EMA on the 4-hour chart is sloping up and the bulls have been buying the dip to this support in the past few days. This suggests that the sentiment is positive and the bulls view dips as a buying opportunity.

The RSI has been trading near the overbought zone, which also suggests that bulls are in control. A break below the 20-EMA will be the first sign that the momentum may be weakening. Such a move could result in a drop to $53 and then to $51.50.

XLM/USD

Stellar Lumens (XLM) has repeatedly risen above the overhead resistance at $0.084584 in the past few days but the bulls have not been able to capitalize on the move and start a new uptrend. This suggests that the bears are defending this resistance.

XLM/USD daily chart. Source: TradingView

However, the upsloping 20-day EMA ($0.080) and the RSI in the positive territory suggests that bulls have the upper hand.

If the bulls can propel the price above the $0.084584–$0.087753 resistance, the XLM/USD pair will complete a rounding bottom pattern. This reversal setup has a target objective of $0.102327.

Contrary to this assumption, if the pair turns down from the current levels and breaks below the 20-day EMA, it will suggest that the bulls have squandered their advantage.

XLM/USD 4-hour chart. Source: TradingView

The pair broke below the support line of the triangle but the bears have not been able to capitalize on this move. The bulls are currently attempting to push the price back inside the triangle.

If they succeed, the pair could rally to the resistance line of the triangle. A breakout and close above the triangle might begin a new uptrend.

Contrary to this assumption, if the bears sustain the price below the support line of the triangle, the sentiment could weaken and the pair may drop to $0.079 and lower.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

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PayPal’s crypto integration means Bitcoin could triple its user base

October 22, 2020 by Blockchain Consultants

Bitcoin (BTC) price has again punched through the $13,000 mark after yesterday’s PayPal’s announcement sparked a powerful rally which drove the price to a new 2020 high. 

Currently sitting near $13,100, Bitcoin price has rallied nearly 10% since the announcement and BTC is now close to overtaking PayPal as the 21st biggest asset by market capitalization.

PayPal’s crypto announcement comes two weeks after Square, another payments giant, announced its own foray into Bitcoin by investing roughly 1% of its assets into Bitcoin.

According to Lanre Jonathan Ige, a researcher at Amun AG, the continuing trend of large sized investments will be material in bringing institutional interest to Bitcoin. Ige said:

“Corporations are often trend-following and we can expect a number of other corporations to follow the lead of Square and Microstrategy, as the returns of the assets continue to impress.”

However, the recent news from PayPal is more likely to bring the masses to Bitcoin, rather than Bitcoin to institutions. This is because PayPal may bring a more mainstream audience up to speed with the cryptocurrency as an investment vehicle for now and as a payment method in the future, which has been one of the main focus of the Bitcoin community when it comes to mass adoption.

PayPal should boost Bitcoin’s user base

According to data from glassnode, Bitcoin currently has over 187 million users or “hodlers”. While impressive, crypto analyst Willy Woo noted that this pales in comparison to PayPal’s 487 million users.

Total Bitcoin HODLers. Source: Twitter

By adding Bitcoin, PayPal is bringing the name to a mainstream audience. While it is only possible to buy, sell and hold Bitcoin through PayPal for the time being, the company announced that it would be adding cryptocurrency payment and transfers in 2021. Once this occurs, it could cement Bitcoin’s reputation as a payment and remittance mechanism.

Transacting through PayPal and other centralized platforms could even become one of the ways in which Bitcoin is able to scale to a mainstream user base. Centralized transactions (along with other methods like sidechains and lightning network) could be used to alleviate congestion in Bitcoin’s blockchain, allowing it to be used only for bigger transactions that require more safety, transparency or immutable proof of ownership.

Bitcoin is on the path to outperforming banks

While it seems that payment processing companies and cryptocurrencies are finding more synergy as time passes, the same can not be said for banks and this struggle is reflected in their stock price.

Jon Erlichman, tech correspondent at BNN Bloomberg, noted that assets like Bitcoin, Ether and stocks for payment companies like PayPal and Square were doing quite well this year but since the COVID-19 pandemic, financial stocks have underperformed.

Bitcoin and Ether YTD performance. Source: Digital Assets Data

To date, the prices of Bitcoin and Ether have appreciated by 80.5% and 217%. Meanwhile, PayPal rallied 99% and Square 186%. Banks like JPMorgan and Bank of America, on the other hand, have lost 28% and 32% respectively. Citigroup has seen its stock value drop by 46% and Wells Fargo has decreased by 58%.

As for Bitcoin, it continues to be one of the best performing assets in existence, beating gold and the S&P 500 by a wide margin in 2020.

Macro Assets Current Year Returns. Source: Skew.com

As a growing number of people interact with Bitcoin as an investment vehicle, it is possible that consumers will turn their backs to banks and invest in cryptocurrency.

According to experts, Bitcoin may even benefit from what some call the ‘Robinhood effect’, a phenomenon where retail investors with disposable income purchase an asset via fee-free, gamified investing platforms in order to avoid the rigamarole frequently associated with banks.

If this happens to BTC, the digital asset could see the same type of hyperbolic investing frenzy that occurred as Robinhood investors poured funds into Tesla earlier this year.

PayPal’s crypto integration means Bitcoin could triple its user base

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Filed Under: blockchain technology Tagged With: Adoption, america, analyst, Bank, Banking, Banks, Bitcoin, bitcoin adoption, Bitcoin Price, blockchain, btc, Companies, COVID-19, crypto, Cryptocurrencies, cryptocurrency, data, Digital, ether, gold, Investing, investment, Investments, jpmorgan, lightning network, Market, Markets, news, other, payments, PayPal, remittance, Robinhood, Square, Stocks, tech, tesla

A Comprehensive Guide to Salesforce Blockchain

October 21, 2020 by Blockchain Consultants

Wondering what exactly Salesforce Blockchain is? What are its key components? What are its use-cases? This article will answer all your questions. 

Table of Contents

  • What is Salesforce Blockchain?
  • Key Components of Salesforce Blockchain and its Benefits
  • How Lamborghini Uses Salesforce Blockchain
  • Other Use-Cases to Consider  
  • Concluding Lines 

What is Salesforce Blockchain?

Before introducing Salesforce Blockchain, let’s define what Blockchain is. Blockchain is a peer-to-peer decentralized distributed ledger technology that uses cryptography to create a secure linkage between records while mitigating the involvement of third-party intermediaries.

Few describe this innovative technology as a means that offers an opportunity to secure and share data from applications with a network of partners. It is a low-code-based Blockchain platform that allows organizations to build smart contracts, decentralized apps, and networks to share verified data using distributed ledger technology. This technology is capable of managing the challenge of building a stable network and providing the right protocols for you to authenticate. This specific platform has been adopted by American institutions, leading global provider of advanced analytics IQVIA, Arizona State University, among others.

Want to have in-depth understanding of Blockchain Technologies? Looking for the best Blockchain Certifications? You are just a click away!

Key Components of Salesforce Blockchain and its Benefits

The advantage of using Salesforce Blockchain is that businesses can use this platform to develop and operate blockchain networks, applications, and smart contracts using its strong low-code capabilities. 

 It consists of three components:

  • Blockchain Builder is a toolset for building blockchain-based apps known as decentralized apps
  • Blockchain Connect which integrates blockchain actions with Salesforce applications.
  • Blockchain Engage a component that allows clients to invite parties to Blockchain apps created within Salesforce.

Apart from these, the main building blocks of Salesforce Blockchain are:

Hyperledger Sawtooth: It is a Blockchain-based protocol on which Salesforce Blockchain is built. Sawtooth is an open-source Blockchain business platform that aims to distribute ledgers and make smart contracts safe and efficient for enterprise purposes.

Consensus Mechanism: Just like other Blockchain networks, Salesforce offers numerous consensus protocols, allowing networks to decide which process works best as per their requirements.

Smart Contract APIs: Smart contracts allow businesses to develop new business models that are based on confidence and automation. APIs allow Blockchain Developers to build and deploy a set of business rules all across the network.

Want to learn more about Hyperledger and become a Certified Hyperledger Expert? Enroll in Blockchain Council now!

How Lamborghini Uses Salesforce Blockchain

Lamborghini, a luxurious sport car, is using Salesforce Blockchain to authenticate its heritage cars. In late 2019, it was announced that Lamborghini would use the salesforce Blockchain for tracing, certifying, and authenticating its cars faster and more securely than ever.

Initially, when Lamborghini was resold, it had to go through hundreds of certification inspections, and the entire process is tedious and time-consuming. This is because the company has to work with a massive network of resources, including dealerships, repair shops, photographers, etc., in order to record and verify the entire history of all the parts and services of each vehicle.

Using Salesforce Blockchain, Lamborghini is able to innovate and transform the vintage car market. Each car comes with an immutable record of service, including crucial details such as prior ownership and restoration, allowing the history of vehicles to be stored immutably and securely. Moreover, technology helps in bringing all distributed parties together in a single trusted network. This entire process is completely digitized, thus more efficient and reliable. In addition, this new system protects Lamborghini cars against future counterfeits.

Other Use-Cases to Consider  

  • Speed up Service Processes: for quicker and easier servicing of a homebuyer, real estate companies can bring mortgage lenders, property managers, and realtors together on a single trustable network, i.e., Blockchain.
  • Accelerate revenue through network engagement: Banks can minimize sales cycles and enhance customer experience by placing the whole KYC process on the blockchain network.
  • Transforming marketing experiences: A hospitality company can create a blockchain network of distinguishable loyalty rewards, allowing customers to use reward points.
  • Ensures trust in supply chain management: For efficient business practices and customer confidence, high-end clothing companies can ensure ethical sourcing of cotton.

Concluding Lines 

To conclude, we can say that Salesforce is making it possible for customers to connect with their partners using reliable and secure networks without the need for coding. This technology is uniquely designed to lower the barrier for creating trusted networks and enables companies to bring together authenticated distributed data and CRM processes.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

 

A Comprehensive Guide to Salesforce Blockchain

Source

Filed Under: blockchain, blockchain technology Tagged With: APIs, Apps, arizona, article, Banks, blockchain, blockchain certification, blockchain certifications, blockchain council, blockchain courses, blockchain developer, Business, car, coding, Companies, cryptography, data, decentralized, developers, Enterprise, Go, Hyperledger, KYC, Ledger, Market, marketing, other, repair, Salesforce, smart contracts, supply chain, Technology

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